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"The only way to trade with Fibonaccis" journal
- Thread starter 1a2b3cppp
- Start date
I shouldn't have traded today, usually I don't trade the first movement of the day, especially if it's a bigger movement, I did otherwise today.
The first 3 blue circles show where I went short at 1, 3, and 5, I closed 9 contracts at the last circle.
Loss of $1,136.
The first 3 blue circles show where I went short at 1, 3, and 5, I closed 9 contracts at the last circle.
Loss of $1,136.
Attachments
Quote from zxd:
I shouldn't have traded today, usually I don't trade the first movement of the day, especially if it's a bigger movement, I did otherwise today.
The first 3 blue circles show where I went short at 1, 3, and 5, I closed 9 contracts at the last circle.
Loss of $1,136.
Yeah, this system tends to lose when price goes from HH to LL or vice versa. A LL after a HH is going to break the range of the HH, and the opposite for an HH after a LL. It happens from time to time.
Quote from zxd:
I shouldn't have traded today, usually I don't trade the first movement of the day, especially if it's a bigger movement, I did otherwise today.
The first 3 blue circles show where I went short at 1, 3, and 5, I closed 9 contracts at the last circle.
Loss of $1,136.
WHY were you shorting on green bars, and not red reversal bars in the direction your trying to achieve?. You stepped in front of a train not once, but twice.